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Saved by RealEstateCafe
on July 1, 2006 at 7:36:05 am
 

Welcome to the Real Estate Bubble Map wiki!

 

 

Like the interactive map above and a twin map of Past Housing Price Corrections, the goal of this experimental wiki is to protect homebuyers from overpaying in overvalued housing markets across the United States. Citizen journalists, particularly homebuyers turned embedded real estate reporters and buyer agents, are invited to add newspaper articles, favorite blog posts, and most importantly examples of falling prices to document what is really going on behind misleading housing statistics, like median sales prices, in housing markets nationwide (see partial list of cities in sidebar).

 

The wiki is meant to work with interactive maps, not replace them. Where possible, location-specific information (like homes selling for below assessed value, foreclosed properties, etc.) should be placed directly on an existing local map or a new map you create. Other information, like housing trends, price projections, monthly sales satistics, or quarterly research should be added to a general page or specific city on this wiki.

 

Why are we doing this? Because, as a recent headline warned, the HOUSING BUBBLE CORRECTION COULD BE SEVERE (U.S. News & World Report, 6/13/06): "...there are now 71 metropolitan areas–representing nearly 40 percent of all single-family homes–that can be classified as "extremely overvalued," according to the study. By comparison, ... only 1 percent were classified as such in the first quarter of 2004."

Further, a study of 66 major metro regions that have experienced price corrections in the past two decades, found that home prices, "...tend to decline 17 percent on average before markets heal themselves ...And the average duration of these adjustments is 3.5 years."

 

  • So, what else can we, acting as an informal national grassroots network, do to help inform and protect homebuyers?

 

  • What kind of information or resources would you like to see linked to your city?

 

  • If you are a bubble blogger, or know one you'd recommend in your local housing market, please add it to the appropriate city.

 

  • If you don't see your city listed, or want to add geographic subsections WITHIN a city, please list them on the city's main page.

 

 

Please submit your ideas to the Real Estate Bubble Map brainstorming page.


 

If you are new to wikis, take a few minutes now or later to visit these links to get an introduction to this powerful new tool for online collaboration:

 

 

 

 

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